Hanoi’s lucrative property market attracts foreigners

The high-end property segment in Hanoi is attracting many foreign investors and clients (Photo: VNA) Hanoi (VNA) – The real estate market in Hanoi is becoming a magnet for foreign investors, with the number of experts and entrepreneurs from abroad working in the capital city rising. Market insiders said western and northern areas of Hanoi are attracting foreign investors. Notably, more and more customers from the Republic of Korea, Japan, Malaysia and Singapore are seeking to buy or rent high-end apartments in the west of the city. Nguyen Phuc Thanh, an experienced investor, explained that the western side accommodates the headquarters of many ministries, sectors and major domestic and foreign businesses. It is also home to key facilities such as the Vietnam National Convention Centre and the National Sports Complex. Additionally, transport infrastructure in the area is relatively modern and convenient for accessing inner areas and main roads to other provinces and cities, he noted. Insiders also said the western area, including the My Dinh area, will remain a top destination for foreigners. More importantly, these clients have high requirements for property products, especially accompanying services, a boon for investors with high-end projects. Meanwhile, the northern area has its own attractiveness in the high-end segment. Nguyen Bich Trang, Director of CBRE Hanoi, said the north of Hanoi, even on the other end of the Nhat Tan Bridge, are developing strongly. In the next five to seven years, new residential areas will be built here and change the city’s real estate… [Read full story]